What is the blockchain economy?
Blockchain Economy is a term for a movement towards cryptocurrencies and digital ledger systems and away from traditional national hard currencies and legacy ledger systems. In the blockchain economy, technologies like bitcoin and blockchain are the typical tools for financial management, rather than traditional software programs that manage national currencies.
The blockchain economy is a natural result of the Bitcoin revolution. As bitcoin cryptocurrency became more popular and evolved, the blockchain immutable ledger also became more popular, evolving into an advanced way to manage finances. Blockchain provides a transparent, readable path for Bitcoin and other financial assets. It is something that is adopted by national governments and private companies alike.
Coupled with the use of cryptocurrencies as virtual money, the blockchain economy represents a movement towards a new digital tracking of financial assets that takes away much of the guesswork and ambiguity from monitoring and observing financial activity. In the blockchain economy, it will always be clear how money moves between different hands, and other efficiencies will also encourage a more flexible financial sector.